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CABARRUS COUNTY1 <br /> NORTH CAROLIIIA <br /> <br />MEMORANDUM <br /> <br />To: <br /> <br />From: <br /> <br />Date: <br /> <br />Subject: <br /> <br />Board of Commissioners <br /> <br /> D. Bennett /~ <br />Blair <br /> <br />May 16, 2001 <br /> <br />Local Sales and Use Tax <br /> <br />Quarter Ending <br /> <br />FY 1999/2000 <br /> <br />September $4,184,341 <br />December 4,712,680 <br />March 4,405,119 <br />June 4,936,306 <br />Total forYear $18,238,446 <br /> <br />FY2000/2001 %Increase <br /> (Decrease) <br />$4,844,270 15.77 <br />$5,030,558 6.75 <br />$4,695,850 6.60 <br /> <br />The third quarter reflects a much slower growth and more along the average with the past <br />five-year's historical trend. The budget for sales tax is $18,995,000 for fiscal year ended <br />6/30/01. By projecting the fourth quarter at a 5% increase over last year, our sales tax <br />revenue would be approximately $700,000 over budget. <br /> <br /> <br />